To answer the question “how much is one Bitcoin worth,” we then need to understand many things about Bitcoin. The first thing to mention is that there is not a stable price for Bitcoin. Bitcoin can be worth $3,000 or $60,000 depending on the platform and period in which you buy or sell the digital asset.
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Bitcoin (BTC) is the largest cryptocurrency in the world. The virtual currency was created back in 2008 and released in 2009 to the market. It was created by an anonymous individual (or group of people) called Satoshi Nakamoto. Although people think he is Japanese, there is no information regarding who this person could be.
Since that moment, the Bitcoin ecosystem grew from just a few enthusiasts to millions of users worldwide. Nowadays, Bitcoin can be used to send and receive money across borders without relying on a third-party.
The main characteristics of Bitcoin include being decentralized, permissionless and trustless. It runs on top of blockchain technology, which is immutable and keeps track of all the transactions that took place in Bitcoin’s history. Another important thing to mention about BTC is that it has a limited supply and the new issuance of Bitcoin is halved every four years.
The owner of Bitcoin is the real owner of its funds. Compared to banks and other financial entities, if you hold the private keys of your wallet, then you are the owner of your funds. This is one of the most important aspects of Bitcoin. There is no government or centralized authority that would be able to control what you do with your money.
Banks, instead, could decide whether or not to approve a transfer. Moreover, they can block your account without any previous notice and they could eventually share your information with authorities and other third-parties.
During the last years, we have seen how Bitcoin expanded all over the world. The virtual currency moved from being worth just a few cents of dollars in 2009 to over $60,000 a few days ago. This massive price increase came with an expansion in the crypto market as a whole.
Bitcoin is not the only virtual currency. There are thousands of others. However, the most popular ones are just a bunch of 50 coins.
If you want to know how much is one Bitcoin worth now you should then check sites such as CoinMarketCap or your local cryptocurrency exchange. There are different things to take into consideration to analyse the price of Bitcoin.
Although the price of Bitcoin is one, there are some variants to it due to local demand and supply logics. For example, the average price of Bitcoin across the most representative exchanges all over the world could be $50,000. However, in your region where there is a constant demand for the virtual currency but not many offerers, the price of the digital asset could have a premium of 10% and cost $55,000.
In some other regions, the price of the virtual currency could be traded at a discount. This is why there is not a clear answer to “how much is one bitcoin worth?” Moreover, this could be used by traders to profit from different BTC prices.
In addition to it, there is a different price of Bitcoin in different currencies. As when you travel to another country, the goods and services are priced in a different currency. If you live in the United Kingdom, Bitcoin’s price could be £ 40,000 while in the United States it could be $55,500.
If we follow this logic, in the Eurozone, the price of Bitcoin would be €46,450. Thus, these differences in the price of Bitcoin happen due to different price in the currencies located all over the world.
In some countries, the price of Bitcoin could be as high as millions in local currency. However, if we measure it in USD, then the price would be close to the average price of BTC all over the world. Understanding these differences is a key thing to understand the way in which the digital asset works.
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